In Omaha, most homes are built with basements. If a home doesn't have a basement, it hinders the sale. Do you mean if a basement is finished versus an unfinished basement?
@@mecha.electroma many builders do not finish the basement, unless the client wants to pay the additional cost. It also depends on the style. For split entry homes, yes the basement will be finished. On 2 story homes, usually not finished. Ranches - depends. A walkout basement is considered more valuable/desirable. The other factor is the quality of the finishes and the quality of the workmanship. Was the basement professionally finished or was it done by the owner? Does that make sense? Did I answer your question?
I have been looking at real estate in Omaha and can't believe the value. It seems the top end of the spectrum is priced in the $300-$400 per square foot range. That's 50% lower than the market I'm currently in. So what is your theory on why Omaha is approximately a 500k person city vs 1M to 1.5M? Weather?
Samantha, you bring up an excellent point. I definitely think weather plays a big role but I also think it is a combination of weather, taxes, and public perception. I think the public may not be aware of all of the things we have to offer. If you think the value is good now, you should have seen it a few years back. Just curious, how did you hear about Omaha?
@@DavidMatney I'm considering a career move and the position is in Omaha. The pay is extremely high, even for where I live now. I have a feeling they are finding it hard to fill the role because of the location. But that's just my opinion. The winters would be an adjustment for sure coming from the West coast. I'm up in the air. It would be a leap of faith without having visited.
@@samanthaschnick678 Congratulations on the job offer! I think once you get used to the winters, it is not so bad. I would at least come out and take a visit. I think you will be pleasantly surprised.
Inflation is closer to 30%. The way it is being calculated is just not accurate. My opinion is that the interest rates will not go down AND there is going to be an influx of homes into the market that are in foreclosure( have been for awhile but have been in forbearance) and baby boomer's retirements . What are your thoughts?
Nicole, you bring up some excellent points and you may be correct on interest rates. If inflation remains high, then it would make sense that the federal funds rate will remain higher for longer. I personally do not see a huge influx of homes on the market due to foreclosure. Why, because a buyer would upside down in their mortgage in order to go into foreclosure. True, foreclosure ARE the highest level in the past 3 years. However, the amount of is still far below then levels in the great financial crisis. During the pandemic foreclosures nationwide were less than 50,000 now then are around 100,000. In 2018-2019, foreclosures were around 200,000. To put it into perspective, during the GFC we were above 900,000. (I wish I had the ability to show a graph) Homeowners unless they just recently purchased have equity. Why would a homeowner let their home go back to the bank if they can sell instead and cash out their equity? You can see the lack of homes in foreclosure on when you visit www.hudhomestore.gov/ Most baby boomers are choosing to age in place. Many of those have homes that are paid off. If they sell they would then have to live somewhere. If they sell and then decide to rent, then they will have to pay current market rates for rent. In Omaha, if an elderly person has a home paid off and has a limited income they can apply for a homestead exemption for the property taxes. There is a wealth gap. The baby boomers HAVE the wealth, because much of their wealth is tied up in the equity of their homes then own. The younger generations do not have near the amount of wealth and are locked out of the market. We have the echo-boomers who are the children on the baby boomers hitting peak buying age helping drive demand. I wish things were different. I wish more homes were on the market especially affordable homes for first time buyers. Those are my thoughts. Thanks again for the comment and for visiting my channel.
🔴 Downtown Omaha: 15 Must-See Spots in Downtown Omaha! ▶ruclips.net/video/JzLWCRRpkWI/видео.htmlsi=thVlZgCotLtzGDwR
What are your thoughts on basements on new builds? Do they hold their value or hold you back when you go to resell?
In Omaha, most homes are built with basements. If a home doesn't have a basement, it hinders the sale. Do you mean if a basement is finished versus an unfinished basement?
@@DavidMatney Finished or unfinished, actually. It seemed to be falling out of fashion in Kansas when I was living there several years back.
@@mecha.electroma many builders do not finish the basement, unless the client wants to pay the additional cost. It also depends on the style. For split entry homes, yes the basement will be finished. On 2 story homes, usually not finished. Ranches - depends. A walkout basement is considered more valuable/desirable. The other factor is the quality of the finishes and the quality of the workmanship. Was the basement professionally finished or was it done by the owner? Does that make sense? Did I answer your question?
@DavidMatney yes - thank you much!! Your channel has been extremely helpful understanding what's in the market.
Thanks for the kinds words and support. It really means alot to me. Is there any type of videos or topics you would like to see me do?
I have been looking at real estate in Omaha and can't believe the value. It seems the top end of the spectrum is priced in the $300-$400 per square foot range. That's 50% lower than the market I'm currently in. So what is your theory on why Omaha is approximately a 500k person city vs 1M to 1.5M? Weather?
Samantha, you bring up an excellent point. I definitely think weather plays a big role but I also think it is a combination of weather, taxes, and public perception. I think the public may not be aware of all of the things we have to offer. If you think the value is good now, you should have seen it a few years back. Just curious, how did you hear about Omaha?
@@DavidMatney I'm considering a career move and the position is in Omaha. The pay is extremely high, even for where I live now. I have a feeling they are finding it hard to fill the role because of the location. But that's just my opinion. The winters would be an adjustment for sure coming from the West coast. I'm up in the air. It would be a leap of faith without having visited.
@@samanthaschnick678 Congratulations on the job offer! I think once you get used to the winters, it is not so bad. I would at least come out and take a visit. I think you will be pleasantly surprised.
Inflation is closer to 30%. The way it is being calculated is just not accurate. My opinion is that the interest rates will not go down AND there is going to be an influx of homes into the market that are in foreclosure( have been for awhile but have been in forbearance) and baby boomer's retirements
. What are your thoughts?
Nicole, you bring up some excellent points and you may be correct on interest rates. If inflation remains high, then it would make sense that the federal funds rate will remain higher for longer. I personally do not see a huge influx of homes on the market due to foreclosure. Why, because a buyer would upside down in their mortgage in order to go into foreclosure.
True, foreclosure ARE the highest level in the past 3 years. However, the amount of is still far below then levels in the great financial crisis. During the pandemic foreclosures nationwide were less than 50,000 now then are around 100,000. In 2018-2019, foreclosures were around 200,000. To put it into perspective, during the GFC we were above 900,000. (I wish I had the ability to show a graph)
Homeowners unless they just recently purchased have equity. Why would a homeowner let their home go back to the bank if they can sell instead and cash out their equity? You can see the lack of homes in foreclosure on when you visit www.hudhomestore.gov/ Most baby boomers are choosing to age in place. Many of those have homes that are paid off. If they sell they would then have to live somewhere. If they sell and then decide to rent, then they will have to pay current market rates for rent.
In Omaha, if an elderly person has a home paid off and has a limited income they can apply for a homestead exemption for the property taxes. There is a wealth gap. The baby boomers HAVE the wealth, because much of their wealth is tied up in the equity of their homes then own. The younger generations do not have near the amount of wealth and are locked out of the market.
We have the echo-boomers who are the children on the baby boomers hitting peak buying age helping drive demand. I wish things were different. I wish more homes were on the market especially affordable homes for first time buyers. Those are my thoughts. Thanks again for the comment and for visiting my channel.
after the tornado the prices must have gone down? taxes must go down, it's killing hope & dreams!!